Glenview Trust Co Lowers Stock Holdings in Bank of America Corporation $BAC

Glenview Trust Co reduced its stake in Bank of America Corporation (NYSE:BAC) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 395,372 shares of the financial services provider’s stock after selling 14,935 shares during the quarter. Glenview Trust Co’s holdings in Bank of America were worth $21,745,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BAC. Brighton Jones LLC boosted its stake in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 6,174 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Bank of America in the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its stake in shares of Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after buying an additional 355 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares of the company’s stock, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BAC. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Daiwa Securities Group lifted their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Autonomous Res decreased their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Piper Sandler lifted their price target on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, HSBC lifted their price target on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.06.

Key Headlines Impacting Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Bank of America Stock Performance

Shares of BAC stock opened at $51.81 on Monday. The stock has a fifty day moving average price of $50.65 and a 200 day moving average price of $52.37. The stock has a market cap of $367.64 billion, a PE ratio of 12.82, a P/E/G ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a 1 year low of $42.35 and a 1 year high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s payout ratio is currently 27.72%.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.